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supplied to the economy by the fed and the stock market has had a lot of the crazy stock is replaced by a larger bubble in the real estate in which we expanded this economy based on all of the false rules while people were spending money that they don't have come in and we have a lot of consumption and employment that was a function of the wealth. that bubble burst and now all of the achieved money that the fed was creating was going into the government through the bond market. the government was able to borrow enormous amounts of money and all true low interest rates thanks to the fed coming and now we have an economy that is dependent on all of this excess government spending in the cheap money and you can see it in the price of the bond but like the two prior bubbles it is going to burst and unfortunately what it does, the consequences for the economy are going to be much worse than they were when either the real estate bubble burst or the stock market bubble. >> and again, the 21st, the so-called private sector baubles, what was the federal government role in your view in creatin
the problems facing the u.s. economy for about an hour and 45 minutes. next on book tv. [applause] >> thanks to the fashion institute of technology. unquestionably the most in the world today. [applause] in addition to being nobel laureates i would have to say from the vantage point for the economic thinking those would be my finalists. [applause] as you know, we've written a book that pertains to the challenges and circumstance the price of an equality. on behalf of them i thank you for your patronage and. let's start with paul. paul, you talked about and this depression now. a lot of people don't believe we could end this now. but agency deutsch human beings have to take on this challenge? something that is recognizably the same kind of animal. we victimize it is the same technology still there and skills are still there. look back to the 1930's and there are a lot of people making the argument that there were no easy answers and you could quickly get out of this [inaudible] and the 1939 and these are fundamental problems and if we want to make progress to cut unemployment benefits and thi
are transforming the global economy." he was in atense for the fall for the book festival held annually at the university. it's about a half an hour. >>> now joining us here at george maison university is professor philip auerswald. the most recent book is "the coming prosperity: how entrepreneurs are transforming the global economy". here's the cover of the book. professor, what role does -- play in economic development? >> well, that's a great question, and maybe i'll talk about what role does fear play in our conversation about. the conversation about the present. when we talk about our reality and share our idea in a marketplace, we're competing with other ideas. we know three things about marketplaces for ideas. short term sells better than long-term, fear sells better than hope, negative sells better than positive, and exaggerated sells better than moderated. so we see a disproportionate number of short term narrative of negative, exaggerated stories essentially. so short term negative exaggerated. that is overrepresented in the marketplace of ideas. there's good reason for that.
together but clearly the asian economies are thriving and growing faster and their version of capitalism which is a much bigger role for government, which has government playing more of a straw role in picking winners and losers, determining who gets educator and how they get educated, those forms of capitalism seem to be gaining the upper hand in the global debate and we have to recognize if we don't address the flaws in our own system like the flaws associated with any college or the inability to create jobs for the free rein given to big investors at the expense of everybody else we are going to lose our influence, the model is going to change and we're going to be at a disadvantage. >> host: what is china doing right? >> guest: they are growing fast. by 2030, china is the second-biggest economy in the world right now. we think of it as an exporting economy but their growth has been internal. by 23 which is not that long way although it sounds far away, they will be the world's largest consumer economy. they will be the ones setting the trend in terms of one car is like and what a was
economy. his most recent book. booktv of location at george mason university. >> tell us what you think of our programming this weekend. you can freeze us at booktv, comment on our facebook call or send us an e-mail, booktv, nonfiction books every weekend on c-span2. >> at the end of world war ii we had twelve million men under arms. we have 2,000 flag officers and generals. today we have 1,000 flag officers and generals and 1.2 million under arms. the ratio is totally out of whack. we almost have an admiral for every ship in the navy. not a captain, and admiral. what we have done is go through and look at areas where we could not necessarily save all of the money but we could transfer responsibilities that are not truly in defense of the country out of the pentagon and consolidate programs and save a significant amount of money. >> you can talk with oklahoma senator tom coburn about the fiscal cliff, affordable care act and the future of the republican party on booktv's index. the senator has written several books and reports including his latest, the debt bomb. join our freedom our co
about it except continually make the economy work while we let the liberals destroyed and then we come in every two years and fix it. but right now -- [applause] common sense is viewed as intolerant. the nicest thing you can say to somebody no matter who it is is to get a job. the nicest thing you can say. when you're walking down the street and there's a guy panhandling and you say get a job, you're complimenting him. you are saying that you have the will and the means to get a job. but now these days if you say that, you are seen as mean and intolerant to assume people have the power to act of their own volition. that is where we are at now, that we can think of ourselves as a person he can take care of themselves. you are a bigot. i never thought i would see compassionate conservative thing. do you remember that? the hat fell off. the compassionate conservative is redundant. being a conservative is being compassionate. it just takes the extra check for people to realize they're in believing something that is better for them. calling somebody a compassionate conservative is like call
that encourages us to make homes more and more expensive because it is good for the economy, without thinking about what it does for those of us who are looking to find homes in america. [applause] >> hanna rosin. >> these guys did a great job laying out the issues so i will just allow story but before i do that i want to say because i am from washington and because it is halloween and because i have three children, all of them love to trick or treat our will report that the most popular costume that has come up lately is binders full of women. what this halloween costume looks like is you put your arms in the binder, it is not a jack in the box but jacqueline in the box and jacqueline pops out of a folder in the halloween costume. who said we were dull in washington? we are very creative. i am going to tell the story that inspired me to write my book. this began in 2009. the book is based on an atlantic story that came out in 2010 and basically i had been vacationing in a town for a long time which was a prosperous working-class town and one year i went there a bit seemed there are not many
economy and he rejected the petition from the virginians as did king george. by the time the founding fathers came along now we have almost half a million slaves. what could you do with them? they were largely unskilled and there were no opportunities in the south. the word out of one plantation began to another plantation. there were villages and towns and cities in the north come in and in the north people could read the slaves. there were opportunities in manufacturing where they could learn skills and serve as apprentices and learn skills and trades. couldn't do that in the south. the only opportunity for work was field hands, and then when it caught him chain was invented -- cotton shane was invented, you now have a sort of patrician of plantation owners. middle and lower-income people buying property and planting cotton. prior to that, most of the poor whites in the south were against slavery because the slaves compete for jobs. >> unlike most politicians he put his political career on the line in favor of abolition. he was the first to stand up for emancipation and he led the f
scientific things that may or may not be true but a bad idea for the economy. so that sounds a little pessimistic and i'm really not a pessimist at heart but i am -- i consider it unlikely circumstances that exist when rachel carson wrote silent spring and allowed it to have the influence that it did and i don't dig it will occur any time soon. >> one must question. we have some university students in the audience and didn't get much of a chance to talk about what it was like to pursue science in rachel carson? were there some barriers because of her gender? >> there were barriers. a woman who wanted to get a college education in the 1920s was generally thought to these pursuing that for her own personal betterment, and not for the purpose of having a career. it was to become a better wife, better homemaker, a better mother in the future. that was the object of post-secondary education, primarily. women could go into the teaching profession so carson certainly could have been a teacher and she could have taught biology or writing in the future. that would have been a career avenue tha
Search Results 0 to 8 of about 9